Which type of property ownership implies joint ownership with rights of survivorship?

Prepare for the North Carolina Broker Reciprocal Exam. Sharpen your skills with flashcards and multiple-choice questions. Each question offers explanations to ensure clarity and understanding. Get ready to excel!

The concept of joint ownership with rights of survivorship is specifically associated with joint tenancy. In a joint tenancy arrangement, two or more individuals hold the title to a property together, and crucially, upon the death of one owner, their share automatically passes to the surviving owners. This characteristic of survivorship distinguishes joint tenancy from other forms of co-ownership.

In contrast, tenancy in common allows for multiple owners to have an interest in a property, but there are no rights of survivorship; when one owner passes away, their share can be inherited by their heirs rather than passing to the other co-owners. Sole ownership is exactly what it sounds like—one individual owns the property outright without any co-owners. Community ownership typically refers to property that is jointly owned by married couples and does not inherently include the right of survivorship unless specifically stated.

Thus, joint tenancy is the correct choice because it explicitly includes the right of survivorship, making it distinct from the other forms of ownership listed.

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